Title 51A — BANKS AND BANKING
18 chapters · 543 sections in this title.
In acting on an application, the director or commission, as the case may be, may consider the views of the appropriate bank supervisory agencies
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Source: SL 1996, ch 280 , § 3; SL 2008, ch 252 , § 36.
SDCL § 51A-7-1 Operation of branches
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A branch bank or mobile branch bank may be operated by a bank only as authorized by this title and by the director under such rules as the commission shall require. Source: SL 1933 (SS), ch 2 , § 2; SL 1935, ch 54 ; SDC 1939, § 6.0402; SL 1957, ch 11 ; SDCL §§ 51-8-2, 51-8-3; SL …
SDCL § 51A-7-10 Limitation on functions of detached drive - in facility
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The only banking services which may be offered or rendered to the public at any detached drive - in facility are services comparable to those customarily performed by a bank teller in a bank. No loan or discount services shall be offered or rendered to the public at any detached …
SDCL § 51A-7-11 Construction or operation of detached drive-in facility--Approval required
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No detached drive-in facility may be constructed or operated without the prior written approval of the director, in the case of a state bank, or the appropriate federal regulatory authority in the case of a national bank. Source: SL 1965, ch 21 , § 7; SDCL § 51-8-9; SL 1969, ch 1…
SDCL § 51A-7-12 Indication of parent bank on branches and drive-in facilities
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A branch bank, mobile branch bank, or drive-in facility shall clearly indicate the identity of its parent bank. Source: SL 1981, ch 346 , § 70; SDCL § 51-20-13; SL 2008, ch 252 , § 34.
SDCL § 51A-7-13 Definition of terms
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Terms used in §§ 51A-7-13 to 51A-7-26 , inclusive, mean: (1) "Acquisition of a branch," the acquisition of a branch located in a host state; (2) "Bank," a bank as defined in 12 U.S.C. § 1813(h) as of January 1, 1996. The term does not include any foreign bank as defined in § 12 U…
SDCL § 51A-7-14 Interstate branches--Approval required
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With prior approval of the director, any South Dakota state bank may establish and maintain a branch or acquire a branch in a state other than South Dakota. A South Dakota state bank may conduct any activities at a branch outside of South Dakota that are permissible for a bank ch…
SDCL § 51A-7-15 Application to establish interstate branch--Fee
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No South Dakota state bank may establish or maintain a branch in another state until the application and appropriate fee has been submitted and approved as provided in §
SDCL § 51A-7-16 Restrictions on branches by other states
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To the extent another state imposes a restriction on the ability of a South Dakota bank to establish, acquire, or retain a branch in that state, the other state's restriction shall apply to the establishment, acquisition, or retention of a branch in South Dakota by a bank from th…
SDCL § 51A-7-19 Examination of out - of - state bank's South Dakota branch
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The director may make such examinations of any branch established and maintained in South Dakota pursuant to §§ 51A-7-13 to 51A-7-26 , inclusive, by an out - of - state state bank as the director may deem necessary to determine whether the branch is operated in compliance with th…
SDCL § 51A-7-2 Examination of branches
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Every branch bank or mobile branch bank is subject to examination by the director as provided in §§ 51A-2-18 and 51A-2-20 and shall pay the fees prescribed therefor. Source: SDC 1939, § 6.0402 as added by SL 1957, ch 11 ; SDCL § 51-8-5; SL 1969, ch 11 , § 6.2; SL 1988, ch 377 , §…
SDCL § 51A-7-20 Reports required from out - of - state bank with South Dakota branch
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The director may require periodic reports regarding any out - of - state bank that has established and maintained a branch in South Dakota. The required reports may be provided by the bank or by the bank supervisory agency having primary responsibility for the bank. Any reporting…
SDCL § 51A-7-23 Joint examinations of joint enforcement actions by commission and bank supervisory agencies
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The commission may enter into joint examinations or joint enforcement actions with other bank supervisory agencies having concurrent jurisdiction over any branch established and maintained in South Dakota by an out - of - state bank or any branch established and maintained by a S…
SDCL § 51A-7-24 Repealed by SL 2008, ch 252 , § 42
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51A-7-25 Authority of director in case of violation by South Dakota branch of out-of-state bank. 51A-7-26 Promulgation of rules to establish fees. 51A-7-27
SDCL § 51A-7-25 Authority of director in case of violation by South Dakota branch of out - of - state bank
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If it is determined that a branch maintained by an out - of - state state bank in South Dakota is being operated in violation of any provision of the laws of South Dakota or is being operated in an unsafe and unsound manner, the director has the authority to take any enforcement …
SDCL § 51A-7-26 Promulgation of rules to establish fees
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The commission may promulgate rules pursuant to chapter 1-26 to establish the fees provided by §§ 51A-7-13 to 51A-7-15 , inclusive, and to provide the necessary forms to administer §§ 51A-7-13 to 51A-7-25 , inclusive. Source: SL 1996, ch 280 , § 14; SL 2021, ch 204 , § 5. 51A-7-2…
SDCL § 51A-7-27 Repealed by SL 2008, ch 252 , § 43
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51A-7-28 Prohibitions concerning bank names. 51A-7-29 Intentional misleading as to source of product, service, or communication prohibited.
SDCL § 51A-7-28 Prohibitions concerning bank names
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No provision of this chapter permits any person, partnership, association, or corporation to identify a newly formed bank, to rename an existing bank, or to open a branch of a newly formed or existing bank, if the effect of such formation, opening, or renaming would be likely to …
SDCL § 51A-7-29 Intentional misleading as to source of product, service, or communication prohibited
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No person may use the word, bank, or any variation of the word, bank, or logo of an existing bank, trust company, savings association, savings bank, or affiliate in a manner that intentionally misleads a person about the source of origin, affiliation, or sponsorship of a product …
SDCL § 51A-7-3 Capital requirements for bank operating branch
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Any bank operating a branch bank or banks shall have total capital of not less than the minimum amount required by rule of the commission. Source: SL 1933 (SS), ch 2 , § 2; SDC 1939, § 6.0402; SL 1957, ch 11 ; SDCL, § 51-8-4; SL 1969, ch 11 , § 6.3; SL 1982, ch 334 , § 2; SL 1988…
SDCL § 51A-7-4 Establishment of branch banks
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A branch bank may be established de novo or by consolidating or merging with or purchasing the assets of another state bank, national bank or savings and loan association, or another federally insured financial institution. Source: SL 1933 (SS), ch 2 , § 2; SDC 1939, § 6.0402; SL…
SDCL § 51A-7-5 Repealed by SL 2008, ch 252 , § 31
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51A-7-6 Closing branch--Approval required--Violation as misdemeanor. 51A-7-7 National banks' branching authority. 51A-7-8 Detached drive-in facility--Requirements for construction and operation. 51A-7-9 "Detached" defined. 51A-7-10 Limitation on functions of detached drive-in fac…
SDCL § 51A-7-6 Closing branch--Approval required--Violation as misdemeanor
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No branch bank may close without the approval of the director. If a branch is closed the branch certificate shall be surrendered to the division. A violation of this section is a Class 2 misdemeanor. Source: SL 1984, ch 316 ; SL 1988, ch 377 , § 128; SDCL § 51-20-4.2; SL 2008, ch…
SDCL § 51A-7-7 National banks' branching authority
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Any national bank whose principal place of business is in this state is hereby authorized to do all things and perform all acts which state banks are permitted to do or perform under this chapter, subject to the conditions and restrictions provided for state banks as to exercise …
SDCL § 51A-7-8 Detached drive - in facility--Requirements for construction and operation
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Construction and operation of one detached drive - in facility for each bank and branch bank is authorized so long as such bank or branch bank shall comply with all the provisions of this chapter. Source: SL 1965, ch 21 , § 1; SDCL, § 51-8-8; SL 1969, ch 11 , § 6.6; SDCL, § 51-20…
SDCL § 51A-7-9 "Detached" defined
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A drive - in facility is "detached" within the meaning of this chapter when any part of any structure in which any of the services of the drive - in facility are carried on is located at least fifty feet from the building in which the main banking room of the bank or branch bank …